Property Listing No Longer Available for Sale

100 E Front Street Street, Traverse City, MI

Multi-family for Sale - $4,000,000 - 20,411 Sq. Ft.


Property Info

CIMLS#1127953
Location
  100 E Front Street Street
  Traverse City MI 49684
UpdatedDecember 28th, 2022
TypeMulti-family
Price$4,000,000
Building20,411 Sq. Ft.

Property Description

Iconic Building in the heart of downtown Traverse City. Location does not get any better than the corner of East Front Street & Union Street. Building is approx. 20,000 SF (7,000 SF ground floor, 6,500 SF 2nd & 3rd floors, 400 SF 4th floor) with a full 6,500 SF basement. Property has been in the same family for over 50 years and lease rates are far below market rates. Short lease terms gives the buyer an opportunity to capture current market rents for highly sought after retail and office space or redevelop the property and use the 2nd, 3rd & 4th floors for residential condos or Air B&B units. Large windows and lots of light make redevelopment very desirable. Building already has fire sprinklers installed. There are 13 parking spaces in the rear of the building.


Financials